While investigations have unravelled that many billionaires use their offshore accounts to hide their billions of shillings, some of which are believed to have been stolen, there has been no evidence that the monies kept in offshore accounts is looted money.
At the same time, it is important to note that keeping money in an offshore account is not an illegal activity that one should be incriminated of.
According to information obtained from Pandora's Papers, The Kenyatta family have kept wealth worth Ksh3 billion in offshore accounts.
In a report by Allan Namu's Africa's Uncensored, the amount is believed to have been kept through foundations.
Here are the list of nine foundations liked to Kenyatta family:
Varies Foundation (Panama)- Active as at 21st June 2021
Criselle Foundation (Panama)- Active as at 26th May,2020
Maclay Foundation (Panama)- Active as at 28th May, 2020
Milrun International (BVI)- Struck-Off (Non-payment of the annual fee)- Agent resigned on 13th June 2019
Hawking International Limited- Active (Last Annual Fee Submission on 17th May 2021)
Leonor Estates Inc. (BVI)- Struck off( Non- payment of annual fee)- Status from 1st May 2018
Galanes Finance (BV)- Struck off (Non-payment of the annual fee)- Status from 1st November 2018)
Pictor Finance Limited- Struck off (Non-Payment of the annual fee)- Status from 1st May 2018
Valbert Foundation(PANAMA)- Suspended as at 26 November, 2019
Content created and supplied by: Summary (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More